Industry News
OPAP strengthens its position in online sports-betting in Greece through the acquisition of Stoiximan Group’s Greek and Cypriot business
OPAP S.A., (“OPAP”), SAZKA Group’s Greek and Cypriot subsidiary, has today announced (i) the receipt of regulatory approvals for its previously announced acquisition of 51% of Stoiximan Group’s Greek and Cypriot business (“SMGC”) and (ii) the acquisition (subject to regulatory approvals) of a further stake in SMGC as a result of which OPAP will have a total shareholding of 85% in and sole control of SMGC.
OPAP’s announcement and presentation can be found here.
Robert Chvatal, SAZKA Group CEO, commented: “Today’s announcement marks an important step forward for SAZKA Group and for OPAP, as OPAP gains a leading market position in yet another gaming vertical. OPAP, with SAZKA Group’s support, has achieved a milestone that will significantly strengthen its position in the online sports-betting market. In recent weeks, we have been working in anything but a standard business environment. And yet under these extraordinary circumstances our joint teams brought this transaction to fruition. Here my thanks must go specifically to the management team led by Mr. George Daskalakis”.
In 2019, Stoiximan Group (under the parent company TCB) generated revenues (GGR) of €245 million and EBITDA of €38 million. SMGC generated revenues (GGR) of €197 million, corresponding to 80% of Stoiximan Group’s total revenues, and EBITDA of 44 million.
OPAP:
OPAP is the leading gaming company in Greece. The company, founded in 1958 as the country’s national lottery operator and listed on the Athens Exchange in 2001, is the exclusive licensed operator of numerical lotteries (7 games), sports betting (4 games), Video Lottery Terminals (VLTs) and horse racing in Greece. It also operates exclusively, as a controlling shareholder (83.5%) through a joint venture, the passive lotteries and instant (scratch) games in Greece. OPAP is one of the largest charitable donors in Greece, operating under World Lottery Association (WLA) and responsible gaming standards.
About SAZKA Group:
SAZKA Group is one of the largest pan-European lottery operators. Its businesses run lotteries in all the major continental European countries where lotteries are privately operated, including the Czech Republic, Greece, Austria, Italy, and Cyprus. Its businesses focus on the lottery segment, including numerical lotteries (draw-based games) and instant lotteries (scratch cards), while also providing complementary products in sports-betting and digital-only games. They sell their products both through extensive retail networks and digital platforms. All its lottery operators are members of the World Lottery Association and the European Lottery Association and operate in accordance with their codes of practice.
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